Riyadh – Mubasher: Mobile Telecommunication Company Saudi Arabia (Zain KSA) gained SAR 60 million in net profits during the third quarter (Q3) of 2020, compared with SAR 121 million in the same quarter in 2019, posting a 50.4% contraction. 

The lower quarterly profit was attributed to the decrease in revenue by 4 % or SAR 80 million at SAR 1.93 billion, according to a stock exchange disclosure on Tuesday.

Meanwhile, revenue costs increased by SAR 149 million and depreciation and amortisation jumped by SAR 55 million. On the other hand, financing costs decreased by SAR 45 million.

During the first nine months of the year, the profits slumped by 41.1% yearly to SAR 224 million.